Bottom Fishing

I don't understand bottom fishing. Why are people so obsessed with finding the bottoms; buying stocks at their absolute lows before they reverse course? What an exercise in futility. I admit I bought and owned Goldman Sachs (on a Cramer recommendation) a few months back, but it was a mistake and it is (apparently) still "best of breed". The "Fast Money" traders kept recommending the XLF; meanwhile I owned the SKF (inverse x2 of the XLF) and made money, although I'm not great at the short game. But, to me, financials = stay away. Why bother? What a waste of an investment when you have oil, coal, shipping, rails, natural gas, fertilizer, infrastructure, and even technology that's working at the moment. The only "financials" worth owning are Mastercard and Visa. Period. All the benefit of people switching from cash to plastic with none of the risks associated with Discover or American Express. Purely transaction plays and they work.

I'm not a professional, but I know what I know and I also know what I don't understand. I don't understand drug, biotech, healthcare, and financial companies, among others, so I stay away. If I don't understand the reason why something should go up, I don't buy. I don't see why the financial stocks are attractive at these levels. For all I know, more could go the route of Bear Stearns. No thanks. I'll keep profiting from the "evil" oil companies while bottom fishers close their eyes and try to pick the perfect entry points into the financial stocks as they continue to lose money. Good luck!